bailing out the banks... all around the world!

[star-white.livejournal.com]

"Skrillex & Mosquito Repellent Advertisement" (Watch on YouTube)

Florida Democrat Senator Alan Grayson drills Ben Bernanke, the Chairman of the Board of Governors of the United States Federal Reserve over the handing out of half a trillion dollars to foreign banking institutions. Grayson's main argument is over the constitutionality of the power the federal reserve has to hand these monies over without any oversight by the United States Congress. Bernanke defends the federal reserves right to hand out these funds based on the congressional approval of the Federal Reserve act.

In my opinion, the Federal Reserve now believes it is also a government body that has the power to loosen the purse strings and pass billions of dollars out as it seems fit. Feel free to argue the original intent of the Federal Reserve Act, or even against the existence of a national banking body.

Comments

[mahnmut.livejournal.com]

Well, it was kinvore who recently declared abomvubuso to be the Paula Abdul of LJ mods - he loves everyone and he cannot comprehend how come it's not possible that everyone else loves everyone.